HEELEY TRUST
FORMERLY HEELEY DEVELOPMENTTRUST
REGISTERED IN ENGLAND AND WALES UNDER COMPANY NUMBER 3288676
REGISTERED CHARITY NUMBER 1067567
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
INDEX
Page
Referen￿ and administrative details
Trustees. annual report
Independent auditors, report
10-13
Statement of financial activities and income and expenditure account
14
Balance sheet
15
Statement of cash flows
16
Notes to the financial statements
17-27

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Charity number
1067567
Company number
3288676
Name and registered office
Heeley Trust (formety Heeley Development Trust)
Ash Tree Yard, 62-68 ThIr￿ell Road, Heeley, Sheffield, S8 9TF
Our advisors"
Auditors
Marriott Gibbs Rees Wallis Limited
Unit 4, Broadfield Court, Sheffield, S8 OXF
Accountants
Tingle Ashmore Ltd
Chartered Accountants
Enterprise House, Broadfield Court, Sheffield, S8 OXF
Bankers
Unity Trust Bank PIC
Nine BrindleYpIa￿, Bimingham, B12HB
Directors and trustees
P Grassick
K Irwin
S Abram
T Askins
S Blandy
E Chard
A Ashton
R Thomas
T White
J Czauderna
A V Kersey
A Ponsford
resigned 23.10.24
resigned 14.11.23
Company secretary
S Bartles
Key management personnel
A Jackson
S Bartles
T Saunders
CM Connolly
A Walker
T Forman
Trust Manager
Finance Manager- resigned 24.11.23
Finance Manager- appointed 20.12.23
Learning Manager
Cycle Projects Manager
Operations Manager
Page 1

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
The trustees present their annual directors, report and the audited financial statements of the charity for
the year ended 31st March 2024 which are also prepared to meet the requirements for a directors, report
and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011. the Companies Act 2006, the Memorandum
and Articles of Association and Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance viith the Financial Reporting Standard
applicable to the UK and Republic of Ireland published in October 2019.
Legal and administrative information set out on page 1 forms part of this report.
Objectives and activities
The principal activities of the charity remain to create and manage Heeley Millennium Park (now called
Heeley People's Park) for the public benefit within the area of Heeley and Lowfield in Sheffield and also to
promote other charitable purposes for the general benefit of the public in that area.
Heeley People's Park is approximately 4 hectares of greenspace that Heeley Development Trust secured
on a 125 year lease from Sheffield City Council in 1997.
The Trust also has a 25 year lease for the Heeley Institute. a refurbished Grade11 listed Wesleyan Chapel,
which provides space for community activitr'es. The lease is from Heeley and Gleadless Valley Parochial
Church Council and commenced in August 2001.
On 27th June 2012, the Trust took a 125 year lease on the Fonner Anns Grove School site. This enabled
the first phase of building refurbishment to begin - a 28 Studio managed workspace for creative and digital
businesses called Sum Studios.
ACHIEVEMENTS AND PERFORMANCE
OUR WORK IN 2023-24
CONTEXT:
Heeley Trust have developed an approach to Asset Based Community Development over 27 years. We have
always delivered projects that underpin a single approach to local place development and economic
recovery, increasingly, we have realised our approach is Asset Based Community Development.
We are tackling heritage deficit, dereliction and market failure to generate a grant independent income.
Our Objects were revisited by the Board of Trustees in this Year and we define our works as a Charity as
follows..
Carrying on activities for the benefit of the public, particularly in the Gleadless Valley ward in Heeley
constituency, by the following means=
The advancement of health, wellbeing and enjoyment, by managing Heeley People's Park {formerly
Heeley Millennium Park), by providing facilities for public recreation or other leisure-time occupations, by
protecting and conserving the environment, by encouraging access to the natural world, and by
promoting active travel especially cycling.
The advancement of education and leaming. skills acquisits.on and personal development to improve life
opportunities.
The advan￿ment of urban regeneration through the preservation of buildings of historic, community or
architectural importan￿.
The advancement of health and wellbeing through contributing to the delivery of social and public health
care programmes and services.
Page 2

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
OUTPUTS IN THIS YEAR:
COMMUNITY TEAM:
Social Prescribing Link Workers- 698 referrals
PKW
Total Number of People Supported in 1-ttr1 activity by the Service - 163
Total Number of People Supported in group activity by the Service- 1015
Total Number of People reached through events by the Service - 332
Number of People Referred to the Service - 502
The number of partnerships and forums facilitated - 8
Live Well With Dementia
Number of new referrals received - 20
Total number of people receiving 6-monthly dementia well-being I check-in phone calls - 130
Number of any other one-off contacts for advice only- 12
Number of sessions held - 30
Number of attendances at sessions overall - 120
Number of different individuals attending - 36
Green Social Prescribing
27 folk on family sessions
13 on Roshni sessions
Community Development
Nurturing new groups, lots of visits and the managing of the Gleadless Valley Partnership going well.
Our first Community Development Worker on Gleadless Valley VRS in post from Oct 23 to March 24. They
did..
54 visits in this time to registered and non-registered welcome pla￿s.
Restarted wellbeing cart- it has been out 3 times and engaged 61 adults and 22 children
Heeley Green Community Meal
11 sessions 20-25 attendees at each
Events
Asset mapping with York Uni, Family Open Day, Handlebards, PAX in the Park, 3 Christmas parties, 1 staff
night out paid for by PCNI
PARKS TEAM
Mowing: 165 hours (Scag and Honda Izy)
Strimming.. 80 hours
Responsive & Damage Repairs: 110 hours".
48 hours over the year to clear needles
62 hours spent on general graffiti and damage.
Litter Picking: 144 hours clearing litter last year.
Playground Maintenance: 32 hours (basic repairs and maintenance.. Doesn't include Responsive Repairs)
Ash Die Back: This was a major year of works to remove the Ash in the Park most affected. We continue to
monitor and gradually remove.
Page 3

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
ACTIVE TRAVEL TEAM
Bike Recycling:
This remains at the core of what we do and how we make cycling ac￿Ssible to more people. Thanks to
everyone who donated a bike or spares, or who visited us. gave us a great review, took part in an event or
joined us learning to ride - you are our lifebloodl
Number of bikes donated.. 876
Number of bikes passed on to other organisations-
Aid 4 Gambia.. 538
Comac.. 68
Number of reconditioned bikes built for University of Sheffield contract= 121
Number of reconditioned bikes sold to students via University contract.. 101
Number of reconditioned bikes built for sale in shop.. 133
Number of reconditioned bikes sold in the shop.. 149
Average sale price of an adult reconditioned bike.. £258.04
Average sale price of a Child's reconditioned bike.. £106.15
Average length of time a bike is in stock.. 14 weeks
Maximum length of time a bike has been in stock.. 112 weeks
This Activity Created 2 Full Time Mechanic Jobs and Created 1 Apprenticeship.
Sheffield Cycle Boost
A Partnership with Sheffield City Council to deliver Bike Loans and Cycle Training to Workers in Sheffield.
Bike Loans 63 (Funded Quota- we received 125 applications) Of these..
43 used their loan bike to get to work
44.4 % of drivers in the scheme switched to active travel after taking part.
Cycle Training: 81 Participants:
Learn to Ride 32
Cycle Confidence 27
Women Only 17
Road Confidence 13
Bike Buddy {1 to 1 Lesson and route planning) 14
Page 4

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
Rotherham Journey Matters
A Partnership with Rotherham Borough Council to deliver Bike Loans, Mobile Cycle Hub and Doctor Bike
Services and Cycle Training across the borough.
The Hub:
501 completed 4-week loan periods.
38,177 miles cycled in total by our e-bike loanees.
An average 76miles a month cycled by loanees.
91 % of loanees continued to cycle after loan period.
89 % of loanees continued cycling 3-6 months after loan period.
65 % of loanees travelled by car, motorbike or scooter as the primary mode of transport prior to
borrowing a bike.
90 business and community HUB visits throughout the year.
We welcomed 1818 visitors to the Rotherham Hub.
We safety checked 471 Bikes.
We achieved a 25 % shift in participants to long tem active travel from car driving.
The Training:
We trained 510 people through family sessions, mixed training groups and women only sessions to
improve riding skills and confiden￿.
PLANS FOR THE FUTURE
The challenge of sustaining the projects and outputs we have reported here gets bigger every year now.
Short term arrangements with a cash strapped Local Authority and NHS make our life very frustrating - it's
hard to plan and hard to give staff security.
We would like to do so much more and to plan this so much better- but we are where we are. The changes
in Government and the National Position will take a long time to arrive in our little comer of the world.
Our plan remains to develop our Asset Based Model, bringing Community Hubs to life at Heeley Green,
Newfield Green and to work with Partners across Gleadless and Heeley.
FORMAL STATEMENTS ABOUT OUR FUNDRAISING AND SALARY DETERMINATION
Fundraising: Heeley Trust receives a number of generous donations every year, we have a number of
regular subscribers to our Heeley People's Park and we are incredibly grateful.
The Trust will always seek to earn the bulk of the income we need and to use grant and donations to add real
value.
We do not actively seek or organise significant fundraising from Individuals.
Salaries.. Senior {Management Team) Staff Salaries are reviewed annually as part of a pay review for all
staff. The Trustees operate a Pay Review Committee to scrutinise this.
The Trust actively seeks to lead by example on this matter and to keep salaries fair- the ratio between top
and bottom of our salary scale is currently 1=2.13
The Trust continues to try and pay Real Living Wage.
Page 5

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
Our Funders:
Particular thanks to the following funders this year...
The Co-op Foundation
Heeley Plus Primary Care Nelwork
PSF Synergy (Peer Support Framework)
Health Education England
NHS Sheffield
Sheffield Hallam University- We are Undefeatables
Good Things Foundation
South Yorkshire Community Foundation
Voluntary Action Sheffield - Community Champions
Rotherham Borough Council
Social Investment Business- Continued support with Patient Capital for SUM Studios
Sheffield City Council were the major funder and supporter of our work again this year- from PKW and
South Area Committee, through support grant for Newfield Green Library to UK Shared Prosperity Fund - we
are really grateful for this support.
Andy Jackson
Trust Manager- on behalf of the Trustees.
2024
Page 6

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
Financial review and reserves policy
The Statement of Financial Activities shows total income of £1,470,859 and total expenditure of £1,429,169
for the year. Net income for the year was £41,690 which comprises a deficit on unrestricted funds of
£10,468 and an increase in restricted fund balances of £52,158.
Total funds at 31 st March 2024 amounted to £2,641,470 of which £2,007,301 lie in restricted funds.
These are funds committed to specific purposes or represent the net book value of assets purchased
using restricted grant income, with the majority of the latter relating to the leasehold improvement works.
As shown in note 16 to the financial statements, the charity's general funds at 31st March 2024 amounted
to £228,765. The charity's policy is to hold resep4es of no more than 13 weeks of unrestricted expenditure
which would be around £270,000.
The trustees acknowledge and continue to monitor the general funds balance and, as detailed above, are
developing additional income streams to enable the Trust to increase the general funds towards the
level set out in the reserves policy.
Principal funding sources
The principal funding sources of the Trust are rental income. fees eamed and grants receivable.
Public benefit
The trustees consider that they have complied with the duty in section 4 of the Charities Act 2006 to have
due regard to public benefit guidance published by the Charities Commission and that the detailed review
of activities, set out above, demonstrates that the charity delivers public benefit.
Investment policy
In accordance with the company's Memorandum and Articles of Association, the trustees have power to
invest monies of the Charity not immediately required for its purposes, as may be thought fit. The
management committee will consider suitable investments, securits-es or properties at such time as the level
of reserves justifies a change in the current arrangements.
Structure, governance and management
Governing document
Heeley Trust is a company limited by guarantee governed by its Memorandum and Articles of Association
It is registered as a charity with the Charity Commission. In the event of the charity being wound up
members are required to contribute an amount not ex￿edIng £10.
Appointment of trustees
All directors of the company are also trustees of the charity. There are no other trustees. All the
trustees named on the information page served for at least part of the year. One third of the trustees
retire at the forthcoming Annual General Meeting but are eligible for re-appointment. The trustees may
appoint a person as a trustee to fill a vacancy or to act as an additional trustee.
Trustee training.
All our trustees receive a detsiled induction and introduction to the Trust.
We deliver regular Policy Briefings and updates. Trustees are made aware of Governance Training
opportunities and are aware of Good Governan￿ Guidance offered by NCVO, CAF and Locally via VAS.
Page 7

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
Organisation
The charity is organised so that the trustees and its finance sub group meet regularty to manage its
affairs. The day to day administration of the charity is delegated to employees.
Risk management
The trustees have assessed the major risks to which the charity is exposed and are satisfied that
systems are in place to mitigate the exposure to those risks.
Statement of trustees. responsibilities
The trustees (who are also directors of Heeley Trust for the purposes of company law) are responsible
for preparing the Trustees, Annual Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a
true and fair view of the state of affairs of the charity and of the incoming resources and application of
resources, including the income and expenditure, of the charity for the year. In preparing these
financial statements, the trustees are required to=
select suitsble accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgments and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed. subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in operation.
The trustees are responsible ft)r keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets
of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
In so far as the trustees are aware..
there is no relevant audit information of which the charity's auditor is unaware- and
the trustees have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the auditor is aware of that information.
Where appropriate, the trustees are responsible for the maintenance and integrity of the corporate and
financial information included on the company's website
Members of the executive committee and members of the charity
Members of the executive committee, who are directors for the purpose of company law and trustees for the
purpose of charity law, who served during the year and up to the date of this report are set out on page 1. No
remuneration or expenses are paid to the directors in respect of their duties as trustees.
Members of the charitable company guarantee an amount not exceeding £1 to the assets of the charitable
company in the event of winding up.
Page 8

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
TRUSTEES. ANNUAL REPORT
Auditors
Marriott Gibbs Rees Wallis Limited were appointed as the charitable company's auditors and have expressed
their willingness to continue in that capacity.
Approval
This report has been prepared taking advantage of the small companies, exemption of section 415A of the
Companies Act 2006.
1710112025
The report of the trustees was approved by the board on
behalf by
and signed on its
P Grassick
Trustee
Page 9

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
HEELEY TRUST
Opinion
We have audited the financial statements of Heeley Trust (the 'charitable company,) for the year ended
31 st March 2024 which comprise the Statement of Financial Activities and Income and Expenditure Account,
Balance Sheet, Statement of Cash Flows and notes to the financial statements, including significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting Practits).
In our opinion the financial ststements
give a true and fair view of the state of the charitable companys affairs as at 31st March 2024, and of its
incoming resources and application of resources, including its income and expenditure, for the year then
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
practi￿., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordan￿ with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material Un￿rtaIntieS relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilib-es of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the Trustees Annual Report, other than the
financial statements and our auditor's report thereon. The trustees are responsible for the other
information contained within the annual report. Our opinion on the financial statements does not cover the
other information and, except to the extent otherwise explicitly stated in our report, we do not express any
form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify
such material inconsistencies or apparent material misstatements, we are required to determine whether this
gives rise to a material misstatement in the financial ststements themselves. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we are required to
report that fact.
We have nothing to report in this regard.
Page 10

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
HEELEY TRUST
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees. Annual Report (incorporating the Directors, Report) for the financial
period for which the financial statements are prepared is consistent with the financial statements., and
the Directors, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in
the course of the audit, we have not identified material misstatements in the Directors, Report included within
the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept or returns adequate for our audit have not been
received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of directors, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit- or
the Trustees were not entitled to prepare the financial statements in accordan￿ with the small
companies, regime and take advantage of the small companies exemptions in preparing the directors,
report and from the requirement to prepare a strategic report.
Responsibilities of Trustees
As explained more fully in the Trustees, responsibilities statement set out on page 8, the Trustees (who are
also the directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the Trustees detemine is necessary to enable the preparation of financial statements that
are free from material misstatement. whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing. as applicable, matters related to going con￿rn and using
the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or
to cease operations, or have no realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes
our opinion. Reasonable assuran￿ is a high level of assuran￿, but is not a guarantee that an audit
conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these
financial statements.
The extent to which our prO￿dureS are capable of detecting irregularities, including fraud and audit response
Irregularities, including fraud, are instances of non-complian￿ with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our prO￿dureS are capable of detecting irregularities,
including fraud, is detailed below.
Page11

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
HEELEY TRUST
We have assessed the overall susceptibility of the financial statements to material misstatement due to
irregularities as low.
At the planning stage we identified areas of laws and regulations that could reasonably be expected to have a
material effect on the financial statements from our general commercial and sector experience and through
discussion with the directors and other management, as required by auditing standards. The potential effect
of any laws and regulation on the financial statements can vary considerably. There are laws and regulations
that directly affect the financial statements {e.g. the Companies Act) as well as many other operational laws
and regulations where the consequences of non-compliance could have a material effect on amounts or
disclosures in the financial statements. Owing to the size, nature and complexity of the organisation and the
applicable laws and regulations to which it must adhere, the risk of material misstatement was deemed to be
low, therefore the procedures performed by the audit team were limited to"
Communicating identified laws and regulations at planning throughout the audit team to remain alert to
any indications of non-compliance throughout the audit.
Enquiry of management and those charged with govemance around actual and potential litigation and
claims as well as non-compliance with laws and regulations.
Reviewing minutes of meetings of those charged with governance.
Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations.
We have assessed the overall susceptibility of the financial statements to material misstatement due to fraud
as low because the nature of the charitable company does not particularly lend itself to fraud.
Management override is inherently high risk on any audit. Management override, which may cause there to
be a material misstatement within the financial statements, may present itself in a number of ways, for
example:
Override of internal controls (e.g. segregation of duties)
Entering into transactions outside the normal course of business, especially with related parties
Fraudulent revenue recognition, including fictitious income and income being recorded in the wrong
period
Presenting bias in accounting judgements and estimates.-
In order to reduce the risk of material misstatement to an acceptable level, numerous audit procedures were
performed including..
Enquiries of management as to whether they had any knowledge of any actual or suspected fraud
Review of material journal entries made throughout the year as well as those made to prepare the
financial statements
Reviewing the underlying rationale behind transactions in order to assess whether they were outside the
normal course of business
Reviewing the minutes of meetings held by management.
Increased substantive testing across all material income streams
Assessing whether management's judgements and estimates indicated potential bias
Page 12

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
HEELEY TRUST
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected
material misstatements in the financial statements, even though we have performed our audit in accordance
with auditing standards. Furthemiore, as with all audits, there is a higher risk of irregularities (especially those
relating to fraud) being undetected, as these may involve the override of internal controls, collusion,
intentional omissions and misrepresentations etc. We are not responsible for preventing non-compliance or
fraud and therefore cannot be expected to detect all InStan￿S of such. Our audit was not designed to identify
misstatements or other irregularities that would not be considered to be material to the financial statements.
The further removed non-compliance with laws and regulations is from the events and transactions reflected
in the financial statements, the less likely we would become avRre of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our
Report of the Independent Auditors.
Use of our report
This report is made solely to the charitsble company's members. as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditor's report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and the charitable company's members as a body, for our audit work, for
this report, or for the opinions we have formed.
2810112025
Dated ".
Tina Havenhand FCCA (Senior Statutory Auditor)
For and on behalf of Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants and Statutory Auditor
Unit 4, Broadfield Court
Sheffield
S8 OXF
Page 13

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Notes
Income from..
Donations and similar income
5,085
5,085
10,675
Charitable activities..
Grants receivable
Fees earned
Rents receivable
404,391
10,323
404,391
869,233
192,150
241,610
863,565
193,177
858,910
192,150
Total income
1,056,145
414,714
1,470,859
1,309,027
Expenditure on..
Charitable activities
1,073,992
355,177
1,429,169
1,281,653
Total expenditure
1,073,992
355,177
1,429,169
1,281,653
Net (expenditure)lincome for
the year
(17.847)
59,537
41,690
27,374
Transfers be￿een funds
7,379
(7,379)
Net movement in funds
(10,468)
52,158
41,690
27,374
Total funds brought forward
644,637
1,955,143
2,599,780
2,572,406
Total funds carried forward
£634,169
£2,007,301
£2,641,470
£2,599,780
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Page 14

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
BALANCE SHEET
Notes
2024
2023
Fixed assets
Tangible assets
2,673,830
2,731,601
Current assets
Stock
Debtors
Cash at bank and on hand
157,905
239.119
379,945
193,427
246,604
267,957
776,969
707,988
Creditors- amounts falling due within one year
10
281,193
302,673
Net current assets
495,776
405,315
Total assets less current liabilities
3,169,606
3,136,916
Creditors- amounts falling due after more than
one year
528,136
537,136
Net assets
£2,641,470
£2,599,780
Income funds
Unrestricted funds
General funds
Designated funds
Revaluation reseNe
16
16
15
228,765
267,740
137,664
227,603
279,370
137,664
634,169
2,007,301
644,637
1,955,143
Restricted funds
16
Total funds
17
£2,641,470
£2,599,780
These financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies. regime.
1710112025
These financial statements were approved and authorised for issue by the Board on
and signed on their behalf by
R Thomas
Trustee
P Grassick
Trustee
Company number '. 3288676
Page 15

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
STATEMENT OF CASH FLOWS
Notes
2024
2023
Cash flows from operating activities-.
Net cash provided byl(used in) operating activities
19
135,899
(85,070)
Cash flows from investing activities-.
Payments to acquire tangible fixed assets
(5,536)
(61,492)
Net cash used in investing activities
(5,536)
(61,492)
Cash flows from financing activities..
Repayments of borrowing
(18,375)
(21,500)
Net cash used in financing activities
(18,375)
(21,500)
Change in cash and cash equivalents in the year
111,988
{168,062)
Cash and cash equivalents at 1st April 2023
267,957
436,019
Cash and cash equivalents at 31st March 2024
£379,945
£267,957
Cash and cash equivalents consists of..
Cash in hand
Bank balance
222
267,735
379,945
Cash and cash equivalents at 31st March 2024
20
£379,945
£267,957
Page 16

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Accounting policies
Heeley Trust is a company limited by guarantee registered in England and Wales. In the event of
the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of
the charity. The address of the registered Offi￿ is given in the charity information on page 1 of these
financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. These financial statements
have been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard application in the UK and Republic of Ireland issued in October 2019,
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102), the
Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The following is a summary of the more important accounting policies used by the charity.
Going concern
The financial statements have been prepared on the going concern basis as the trustees believe that
there are no material uncertainties.
Income
All income is accounted for as soon as the charity has entitlement to the income, there is certainty of
receipt and the amount can be measured. Shop income is the amount derived from the provision of
goods and services, and is stated after trade discounts, other sales taxes and net of VAT.
Income is only deferred when-
The donor specifies that the grant or donation must only be used in future accounting periods- or
The donor has imposed conditions which must be met before the charity has unconditional
entitlement.
Grants receivable
Grants in respect of revenue items are written off to the income and expenditure account in the period
to which they relate. Grants in respect of specific projects are credited to a restricted fund, against
which relevant expenditure is charged.
Grants relating to fixed assets are credited to a restricted fund on the income and expenditure account
from which amounts are released to revenue over the same period as the depreciation period of the
relevant assets.
Fees earned and rents receivable
Fees and rents are credited to the period in which they are receivable.
Expenditure
Expenditure is recognised when a liability is incurred. Charitable activities includes those costs
incurred by the charity in the delivery of its activities. Governance costs include those costs incurred
in meeting the constitutional and statutory requirements of the charity.
Pensions
The charity operates a defined contribution pension scheme for its employees. The scheme funds are
administered by trustees and are independent of the charity's finan￿s.
Operating leases
Rentals payable under operating leases are charged to the statement of financial activities on a
straight line basis over the period of the lease.
Page 17

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Tangible fixed assets and depreciation
The improvements to the leasehold property are stated at cost, including finance costs to the date
of completion on a loan which specifically related to the financing of the project. Other tangible
fixed assets are stated at cost less depreciation.
Depreciation is calculated to write down the cost of the fixed assets, less estimated residual value
over their expected useful lives.
The rates used are as follows:_
Freehold property
Leasehold property improvements
Computer equipment
Other equipment
Motor vehicle
over 50 years
in line with the tems of the lease
25 % per annum. straight line basis
25 % per annum, reducing balance basis
250kn per annum, reducing balance basis
Stock
Stock is stated at the lower of cost and net realisable value. Cost is calculated using the first in, first
out (FIFO) basis.
Debtors
Trade and other debtors are recognised at the settlement amount due after any discount offered.
Creditors
Creditors are recognised when the charity has a present obligation resulting from a past event that will
probably result in the transfer of funds to a third party and the amount due to settle the obligation can
be measured or estimated reliably. Creditors are normalty recognised at their settlement amount after
allowing for any trade discounts due.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
These are initially recognised at transaction value and are subsequently measured at their settlement
value.
Irrecoverable value added tax
Irrecoverable value added tax is written off to the Statement of Financial Activities in the year in which
it arises.
Termination Benefits
Termination benefits are payable when employment is tem)inated before the normal retirement date,
or whenever an employee accepts voluntary redundancy in exchange for these benefits. The charity
recognises termination benefits when it is demonstrably committed to either (i} terminating
the employment of current employees according to a detailed formal plan without possibility of
withdrawal or (li) providing terminats'on benefits as a result of an offer made to encourage voluntary
redundancy.
Fund accounting
Funds held by the charity are either.-
Unrestricted funds - these are funds which can be used in accordance with the charitable objects
at the discretion of the trustees.
Designated funds - these have been set up to identify those unrestricted funds that are not
general funds. These include unrestricted funds earmarked by the charity's trustees to be used
for a particular purpose in the future and the net book value of capital assets purchased using
the charity's general funds.
Revaluation reserve - this represents the differen￿ be￿een the market value of the freehold
property and its historic cost.
Restricted funds - these are funds that can only be used for particular restricted purposes,
imposed by the donor or through the terms of an appeal.
Page 18

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Grants receivable=
Community Development
Sheffield City Council
Associate Libraries Grant
Community Champions Project
Community Connections
Dementia Project
Family Hubs
Holiday and Food Programme
People Keeping Well
Shared Prosperity Fund
South LAC Ward Pots
Other
Arts Council
NHS Sheffield - Transformation Fund
NHS Sheffield - Dementia Project
Good Things Foundation
Sheffield Hallam University- We are
Undefeatables
Sheffield University- Community
Contact Tra￿rS
South Yorkshire Community Foundation
The Places Impact Fund
VCSE - Health and Wellbeing Fund
Voluntary Action Sheffield - Community
Champions
Greenspace
Sheffield City Council - Heeley People's
Park
9.838
9,838
8,838
5,000
2,242
22,400
30,000
16,095
96.300
5,000
9,097
2,242
22,400
30,000
16,095
96,300
5,000
9,097
17,520
57,000
18,568
540
4,980
15,936
2,500
1,500
14,064
14,064
16,664
5,096
16.958
6,859
101,160
5,096
16,958
6,859
101,160
59,571
10,000
2,824
2,824
Cycle Projects
Big Bike Revival Grant
ESFA Traineeship Funding
Community Buildings
Architectural Heritsge Fund
Power to Change
ERDF - Investing for Growth (IfG) Fund
Barnsley Metropolitan Borough Council
1,540
1,500
35.000
31,458
35,000
31,458
9,048
10,905
£404,391
£404,391
£241,610
Page 19

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Charitable activities
Salaries and national insurance
Direct project costs
Insurances
Repairs, renewals and sundry equipment
Stationery and postage
Newsletter, advertising and publicity
Consultancy and recruitment
Miscellaneous expenses
Bad debts
Bank charges and interest
Depreciation
Irrecoverable VAT
544,152
453,008
685
2,073
1,864
799
9,515
5,086
5,219
2,129
19,988
6,345
203.235
108,623
747,387
561,631
685
2,073
1,864
799
9,515
5,086
5,219
2,129
63,307
6,345
639,120
591,488
589
1,651
1,232
702
3,716
4,451
949
26,824
3,301
43,319
Governan￿..
Salaries and national insuran
Audit and accountancy
3,629
19,500
3,629
19,500
3,530
4,100
£1,073,992
£355,177
£1,429,169
£1,281,653
Total expenditure
Salary
costs
Direct
costs
Other
costs
Total
2024
Total
2023
Management & Development
Community Development
Greenspace
Cycle Projects
Community Buildings
Governance
Irrecoverable VAT
6,459
294,499
49,190
353,741
43,498
3,629
21,229
397
1,051
3.483
64,517
19,500
6,345
27,688
413,115
57,773
639,957
261,162
23,129
6,345
14,106
310,404
47,729
640,782
257,701
7,630
3,301
118,219
7,532
282,733
153,147
£751,016
£561,631
£116,522
£1,429,169
£1,281,653
Page 20

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
2024
2023
Net {expenditure)lincome for
This is stated after charging'.-
Auditors, remuneration - MGRW+
Depreciation
9,750
63,307
9,750
26,824
Analysis of staff costs. trustee remuneration and expenses. and the cost
of key management personnel
Salaries
Redundancies
Employer's national insurance
Employer's pension contributions
687,217
265
49,725
13,809
589,101
42,167
11,382
No remuneration was paid nor expenses reimbursed to trustees during either year. The average
number of staff employed was 34 {2023- 30).
There were no employees with emoluments exceeding £60,000 in either year.
The key management personnel of the charity comprise the Trustees, the Trust Manager, the
Finance Manager, the Learning Manager. the Cycle Projects Manager and the Operations Manager.
The total employee benefits of the key management personnel were £201,68312023.' £194,577).
Related party transactions
The total amount of donations received from trustees without conditions was £74712023 - £412).
Paul Grassick, trustee, is also a director of Lembas Trustees Limited who own 75 % or more of the
shares of Lembas Limited. During the year the charity purchased refreshments and cleaning
consumables from Lembas Ltd at a cost of £1.535 (2023- £1.434), on normal commercial terms.
The balance outstanding by the charity at 31st March 2024 was £403 (2023 - £471).
There were no other related party transactions requiring disclosure in either year.
Page 21

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Tangible assets
Freehold Improvements
propety &
to leasehold
improvements
property
Computer
and other
equipment
Motor
vehicles
Total
Cost and valuation
As at 1st April 2023
Additions
660,337
2,180,317
2,338
176,660
5,536
3,019,652
5,536
As at 31st March 2024
660,337
2,180,317
2,338
182,196
3,025,188
Depreciation
As at 1st April 2023
Charge for the year
143,785
18,021
2,297
10
141,969
11,570
288,051
63,307
33,706
As at 31st March 2024
33,706
161,806
2,307
153,539
351,358
Net book value
As at 31st March 2024
£626,631
£2,018,511
£31
£28,657
£2,673,830
2024
2023
Debtors
Trade debtors
Grants receivable
other debtors and prepayments
201,620
7,360
30,139
142,477
7,360
96,767
£239,119
£246,604
10 Creditors - amounts falling due within one year
Loans
Trade creditors
Taxation and social security
Other creditors
Deferred income (see note 13)
Funds held on behalf of others
9,000
83,307
52,359
82,111
52,702
1,714
18,375
71,883
35,450
119,907
55,797
1,261
£281,193
£302,673
The funds held on behalf of others comprise £76 held on behalf of South Yorkshire Poli￿ and £484
held on behalf of Cycle for Health. There was no movement in these balances during either year.
During the year ended 31st March 2024, there were net re￿iptS of £453 on behalf of the Sheffield
District CTC increasing the balance held on their behalf to £1,154.
Page 22

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
2024
2023
11 Creditors - amounts falling due after more than one year
Loans
£528,136
£537,136
Loans include aggregate amounts of £384.136 (2023- £393.1366) which fall due after five years and
which are payable by instalments.
12 Secured liabilities
At 31st March 2024, there were secured liabilities of £537,136 (2023 - £546,136). The loan is secured
on the leasehold improvements and represents 270/0 of the net book value of that asset.
The loan has a term of 25 years. Monthly capital repayments of £750 are being made. The interest
rate on the loan is O %.
2024
2023
13 Deferred income
Balance at 1st April 2023
Amount released to incoming reSoUr￿S
Amount deferred in the year
55,797
(40,719)
37,624
88,267
(58,981)
26,511
Balance at 31 st March 2024
£52,702
£55,797
Deferred income relates to grants received in the year for expenditure which the donor has specified
must take pla￿ in the following year or fees invoiced in advan￿ of the performan￿ of the relevant
activity-
14 Operating lease commitments
At 31st March 2024 the charity had operating leases with total future minimum lease payments as
set out below..
2024
2023
Amount falling due..
Within 1 year
Within 2-5 years
7,248
13,304
262
Page 23

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
15 Revaluation reserve
Unrealised surplus on revaluation of the fr&hold property:
As at 1st April 2023 and at 31st March 2024
£137,664
Balance at
1 st April
2023
Movement in resources
Incoming
Outgoing
Transfers
Balance at
31st March
2024
16 Statement of funds
Unrestricted funds..
General funds
Designated funds
Revaluation reserve
227,603
279,370
137,664
1,056,145
(1,058,192)
(15,800)
3,209
4,170
228,765
267,740
137,664
644,637
1.056,145
(1.073,992)
7,379
634,169
Restricted funds..
Management & Development
Community Development
Greenspace
Cycle Projects
Community Buildings
17,502
88,290
(550)
(275,400)
(1,743)
{463)
(77,021)
16,952
150,943
1,081
46,415
1,791,910
345,432
2,824
(7,379)
46,878
1,802,473
66,458
1.955,143
414,714
(355,177)
17,379)
2,007,301
Total funds
£2.599,780 £1.470,859 £(1.429,169)
£2,641,470
The designated fund identifies unrestricted funds that are not free funds and comprises £225,673
being the net book value of expenditure on the purchase of the Thirfvell Road building, £41,504 being
the net book value of equipment purchased using the charity's own reserves and £563 donations from
a fun run which have been earmarked for an event in Heeley People's Park.
The restricted funds arise from grants provided for specific projects to fund salaries, other direct
charitable costs and the improvements to the leasehold property. The balances carried forward
represent the amount of monies received and not expended by 31st March 2024, or the net book
value of assets purchased using the grant money.
The transfer from restricted to unrestricted funds relates to management fees applicable to some
restricted funds.
Page 24

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
16 Statement of funds (continued)
Prior year comparison..
Balance at
1 st April
2022
Movement in resources
Incoming
Outgoing
Transfers
Balance at
31st March
2023
Unrestricted funds..
General funds
Designated funds
Revaluation reserve
231,339
250,787
137,664
1,067,417
(1,039,614)
(5,951)
{31,539)
34,534
227,603
279,370
137,664
619,790
1.067,417
(1.045,565)
2,995
644,637
Restricted funds-
Management & Development
Community Development
Cycle Projects
Community Buildings
18,235
89,031
47,496
1,797,854
(733)
(216,363)
(3,658)
(15,334)
17,502
88,290
46,878
1,802,473
218,617
3,040
19,953
(2,995)
1,952,616
241,610
(236,088)
(2,995)
1,955,143
Total funds
£2,572,406
£1,309,027 £(1,281,653)
£2,599,780
17 Analysis of net assets be￿een funds
Fund balances at 31st March 2024 are represented by..
Unrestricted Designated
funds
funds
Revaluation
reserve
Restricted
funds
Total
funds
Tangible fixed assets
Net current assets
Long term liabilities
736,291
563
(469.114)
137,664
1,799,875
207,426
2,673,830
495,776
{528,136)
287,787
(59.022)
Net assets
£228,765
£267,740
£137,664
£2,007,301
£2,641,470
Prior year comparison..
Fund balances at 31st March 2023 were represented by:
Tangible fixed assets
Net current assets
Long term liabilities
752,109
563
(473,302)
137,664
1,841,828
113,315
2,731,601
405,315
{537,136)
291,437
(63,834)
Net assets
£227,603
£279,370
£137,664
£1,955,143 £2,599,780
Page 25

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
18 A detailed breakdown of the 2023 statement of financial activities be￿een unrestricted and restricted
funds is as follows=
Unrestricted
funds
Restricted
funds
Total
funds
Income from"
Donations and similar income
Charitable activities..
Grants receivable
Fees earned
Rents receivable
10,675
10,675
241,610
241,610
863,565
193,177
863.565
193,177
Total income
1,067.417
241,610
1,309,027
Expenditure on..
Charitable activities
1,045,565
236,088
1,281,653
Totsl expenditure
1,045.565
236,088
1,281,653
Net income for the year
Transfer be￿een funds
21.852
2,995
5,522
(2,995)
27,374
Net movement in funds
£24.847
£2,527
£27,374
2024
2023
19 Reconciliation of net (expenditur to net
cash flow from operating activities..
Net income for the year
41,690
27,374
Adjustments for..
Depreciation charges
Decreasel{increase) in stock
Decreasel{increase) in debtors
Decrease in creditors
63,307
35,522
7,485
(12,105)
26,824
(27,010)
(70,578)
(41,680)
Net cash provided byl{used in) operating activities
£135,899
£(85,070)
Page 26

HEELEY TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
20 Analysis of changes in net debt
2023
Cash flows
2024
Long term borrowings
Short term borrowings
537,136
18,375
(9,000)
19,375)
528,136
9,000
Total liabilities
555,511
(18,375)
537,136
Cash and cash equivalents
(267,957)
{111,988)
(379,945)
Total net debt
£287,554
£1130,363)
£157,191
21 Post balan￿ sheet events
On 1 Oth December 2024 the charity changed its name from Heeley Development Trust to Heeley
Trust.
Page 27